What HMS Development does

HMS Development is a minority-owned real estate investment and development firm headquartered in Portland, Oregon, co-founded by NFL player Ndamukong Suh and Joel Andersen, with Kerry Hughes serving as COO & CIO. The firm invests in, develops, and operates commercial and residential properties primarily across the Pacific Northwest, with a focused concentration in the Portland metropolitan statistical area. Its portfolio spans multiple asset classes, including the 124-unit luxury residential property The Weidler (completed 2024), the retail-oriented Alberta Alley (completed 2023), and the office asset Dehen (acquired 2020), with a forward pipeline that includes the B188/POIC East Campus educational facility (estimated 2027 delivery). HMS Development pursues acquisition targets of $5 million and above as a principal investor, while also offering consulting and advisory services to third parties, leveraging its development expertise and minority-owned business status to access institutional and public-sector capital channels. The business model is a hybrid of principal real estate investment (capital appreciation, rental income, development fees) and advisory services, with revenue mechanics tied to project completion milestones, asset management, and consulting engagements. There is no disclosed proprietary technology, AI/ML capability, or software platform; the firm's competitive positioning rests on local market knowledge, celebrity co-founder visibility, and minority-owned certification.

Name

HMS Development

Legal name

HMS Development

Website

https://hmsdevelopments.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

HMS Development is a minority-owned real estate investment and development firm based in Portland, Oregon, focused on acquiring, developing, and operating residential, retail, office, and educational properties across the Pacific Northwest, primarily the Portland MSA.

Ownership category

akta.pro rank

Product category

Real Estate Development

SIC

Real Estate Dealers (For Their Own Account) (6532), Operative Builders (1531)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

Keywords

• Real estate investment
• Property development
• Multifamily housing
• Commercial real estate
• Real estate acquisitions

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Property Acquisition & Investment: Acquiring existing properties in the Pacific Northwest region with a focus on well-located apartment communities. Targets acquisition values of $5 million and up.
2. Development: Creating high-quality real estate assets through development of housing, office, and retail projects. Uses an inside-out approach focusing on end-users and community integration.
3. Consulting & Advisory Services: Selectively offers consulting and advisory services including third-party development management, acquisition, and asset management services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

HMS Development acquires, develops, and manages institutional-grade real estate assets across multifamily housing, office, retail, and educational facility asset classes in the Pacific Northwest. The firm targets acquisition values of $5 million and up, pursuing a diversified investment strategy focused on housing coupled with mission and impact opportunities, and selectively provides consulting and advisory services including third-party development management, acquisition, and asset management.

Product overview

HMS Development is a minority-owned real estate investment and development firm in the Pacific Northwest managing a portfolio of institutional mid-rise apartments, boutique retail buildings, and office spaces. Their portfolio includes The Weidler (luxury apartment community), Alberta Alley (retail property), and Dehen (office building), with consulting and advisory services for third-party development management.

Differentiator

Problem solved

Functional benefit

Products and services

• The Weidler A 7-story, 124-unit luxury apartment building located between the Pearl District and Slabtown in Portland's Nob Hill neighborhood, with approximately 103,000 square feet, completed in 2024. Leasing operations are managed by Sylo Property Management. The building features curated artwork in partnership with Portland Street Art Alliance and local artist David Rice.
• Alberta Alley A retail property on Alberta Street in Portland featuring a unique open alleyway design with approximately 7,006 square feet, completed in 2023. Tenants include Fat Kitty Ramen and Kaya restaurants. Designed by YBA Architects with Crossover Construction as contractor.
• Dehen A 3-story, approximately 11,400 square foot timber and masonry office building in Portland's Pearl District at 404 NW 10th Avenue, originally constructed in 1909 and renovated in 2020 after HMS acquisition. Currently occupied with office and retail tenants, with leasing represented by Kidder Mathews brokers Sean McCarthy and Grant Guersney.
• B188 / POIC East Campus A 60,000 square foot, 3-story educational facility serving as the Sunrise Campus for Rosemary Anderson Prep/POIC in east Portland's Rockwood neighborhood. Developed in partnership with Portland Opportunities Industrialization Center (POIC), with estimated completion in 2027.
• Consulting & Advisory Services

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Portland Street Art AllianceminorStrategic or Co-development PartnerHMS partnered with Portland Street Art Alliance and local artist David Rice to curate all artwork for The Weidler apartment building, creating distinctive visual identity and community connection.
• David RiceminorStrategic or Co-development PartnerLocal Portland artist collaborated with HMS Development to curate artwork for The Weidler luxury apartment building.
• YBA ArchitectsminorStrategic or Co-development PartnerArchitecture firm YBA Architects designed Alberta Alley retail property with unique open alleyway concept.
• Kidder MathewscoreChannel Partner/ Reseller/ DistributorKidder Mathews serves as exclusive leasing representative for Dehen office building, handling all leasing inquiries through brokers Sean McCarthy and Grant Guersney.
• Andersen & Crossover ConstructioncoreImplementation/ SI/ Consulting PartnerAndersen and Crossover Construction served as general contractor for The Weidler luxury apartment development. Crossover Construction also served as contractor for Alberta Alley retail project.
• Sylo Property ManagementcoreChannel Partner/ Reseller/ DistributorSylo Property Management handles leasing operations for The Weidler apartment community.
• Portland Opportunities Industrialization Center (POIC)coreStrategic or Co-development PartnerHMS Development is partnering with POIC to develop the B188/POIC East Campus - a 60,000 SF educational facility serving as anchor in east Portland's Rockwood neighborhood.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• CBRE Group: Global real estate services and investment firm with significant PNW presence in investment sales, leasing, and development services. Comparable to HMS's distributed operating model and capital markets advisory at the upper end of the regional market.
• JLL (Jones Lang LaSalle): Global commercial real estate services firm offering investment sales, development advisory, and capital markets. Comparable to HMS's third-party advisory service line, but operating at a vastly different scale across multiple geographies.
• Trammell Crow Company: Large national commercial real estate developer with active PNW office and multifamily presence. Overlaps meaningfully with HMS's institutional-grade development thesis but at dramatically larger scale.

Direct peers

• Holland Partner Group: Pacific Northwest-focused multifamily developer and owner-operator. Directly comparable to HMS Development's PNW multifamily acquisition and development strategy, although at meaningfully larger scale.
• Williams & Dame Development: Pacific Northwest real estate developer specializing in mixed-use, multifamily, and urban infill projects. Comparable PE-backed PNW urban development playbook.
• Killian Pacific: Long-established Portland-area commercial real estate developer active in office, mixed-use, and multifamily. Closest like-for-like regional peer to HMS's diversified PNW development approach.
• Vesta Development: Portland-based, minority-owned real estate development firm with a focus on mixed-use and community-oriented projects. Closely parallel positioning to HMS on geography, asset mix, and mission-driven lens.
• CAP Real Estate (Continental Advisors): Portland-based real estate investment and development firm with multifamily and mixed-use focus. Comparable size and regional footprint to HMS Development.
• BPM Real Estate Group: Portland-based real estate investment and development firm focused on multifamily, mixed-use, and commercial projects in the PNW. Comparable scale and asset-class mix to HMS.

Others

• POIC (Portland Opportunities Industrialization Center): Nonprofit partner on the B188/POIC East Campus project. Not a competitor but a strategic counterparty that anchors one of HMS's pipeline projects and is illustrative of the mission-aligned community development ecosystem in which HMS operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HMS Development